Business
TIMIA Capital Announces Third Quarter Financial Results
Company Delivers Significant Year-over-year Growth in Revenue VANCOUVER, BC / ACCESSWIRE...
About this update from Montfort Capital Corp
[{"type":"text","content":"\nTIMIA Capital Announces Third Quarter Financial ResultsCompany Delivers Significant Year-over-year Growth in RevenueVANCOUVER, BC / ACCESSWIRE / October 25, 2018 / TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V: TCA; OTC: TIMCF) today announced financial results for the third quarter ended August 31, 2018. Third Quarter 2018 Highlights include: Revenue of $399,991, up 59% over the same period last year. Included in total revenue, interest income from investments increased 26% to $317,787 compared with the same period last year. Total assets have increased 65% to $13.1 million compared to the same period last year. Cash balance, as part of assets, was $5,477,794 compared to $713,792 as at November 30, 2017. Raised $1,750,000 in capital through the co-investment model including $1,000,000 from an existing institutional investor. Adjusted EBITDA* of $109,686 compared with an Adjusted EBITDA of $97,115 for the same period last year. Reported a net loss of $413,221 or $0.01 per share compared with a net income of $235,016 or $0.01 per share for the same period last year. Q3 2018 results reflect investments in deal generation to scale our business, increased public market activities, and higher interest expenses associated with the closing of new co-investments and debenture financing. Q3 2017 net income was primarily driven by a $330,301 gain in an equity investment. TIMIA's loan investment portfolio (Loans receivable) increased 56% to $7,227,824 compared to $4,635,340 in the same period last year. \"We have increased the pace of investing in the private software sector where growth and returns have helped us increase our revenue by 59%,\" said Mike Walkinshaw, CEO of TIMIA Capital Corporation. \"We finished the quarter with a strong cash balance of over $5 million and have been focused on investing the capital to help drive further returns. The Canadian market has been a great launch pad for our revenue-financing solution however, we have recently expanded into the United States to help drive our own growth and to support the U.S. SaaS market.\"\"It was a very busy quarter as we rebalanced investments as a result of a successful exit and invested in marketing and sales activities to help scale our business,\" added Walkinshaw. \"We believe we're at the right scale and infrastructure now to achieve new levels of gr...